18 products people waste too much money on that you should stop buying immediately

03/13/2019

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Some items we're used to buying every day can actually be a huge waste of money.

Store-bought greeting cards, physical books, cable TV, and premium gasoline are just a few examples.

Bigger purchases, such as a boat or a time-share, often aren't worth the cost either.

Waste not, want not.

We make so many purchases that we don't always realize what we are buying. If we take a step back and think about all of our additional costs, we could cut a few out of our lives.

These 18 products can often be a huge waste of money.

Lottery tickets

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Many lottery players purchase tickets each day with the hope of striking big, but games of chance are preventing you from having more money, not less. You are expected to lose money if you play the lottery and there is no guarantee you will even keep winnings.

Brand name drugs

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For most products that are exactly the same, customers would usually choose the cheaper option. This does not hold true for brand name drugs, which consistently outpace sales of their generic counterparts despite having the same ingredients and effects. Save yourself some money and buy the generic ibuprofen instead of Advil.

Movie theater concessions

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Movie theaters don't make profits from film tickets, but instead through food sales . The over-inflated popcorn and pricey candy is a rip off considering you can buy the same products at the supermarket for much cheaper and many theaters don't care if you bring in your own snacks (as long as you clean up after yourself).

Cafe coffee

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Before Starbucks and Dunkin' Donuts were on every street corner, people brewed their own coffee at home . This is still somewhat popular especially with coffee pods but coffee shops have taken a lot of the business. With expensive price tags and long waits, it's a wonder why everyone isn't turning to homebrew.

Books

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A library is the best way to save money on an expensive hobby. Libraries are free and come with millions of books, DVDs, and other materials for you to borrow.

Timeshares

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Timeshares sound too good to be true. They offer low prices for a vacation home that you can use whenever you want. But they can trap you with ever-increasing fees and low resale value , making timeshares an almost guaranteed loss.

Boats

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One sign of wealth is cruising on a personal yacht, but that may be a better indicator of wasted wealth. Boats are expensive on their own, but as Saltwater Sportsman says , prices for storage, gas, maintenance, and electronic navigation drive up the initial cost.

CDs and DVDs

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CDs and DVDs are becoming obsolete, but many people still shell out cash for hard copies of albums and movies. Like books, CDs and DVDs can be rented at libraries, but most people now stream entertainment on apps like Spotify and Netflix for a monthly rate that costs less than a single disc.

Greeting cards

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Make your own it's more meaningful if you gift a personalized card and you'll save the $5.

Gift cards

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Gift cards aren't as popular a present as you may think. Almost one in three gift cards never get used at all, CBS reported in 2014 , citingConsumer Reports. Andthose who do use them tend to spend 20% more than the value of the card, according to Investopedia. Cut your losses and buy something more thoughtful next time.

Gym membership

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Gym memberships can be expensive, so if you're not a frequent visitor, you're just wasting money.Thankfully, there are ways to be healthy and exercise outside of a gym.